If you’re hunting for an affordable place to live in Idaho, you’re in luck. Idaho is full of charming cities with reasonable rents, making it perfect for living on a budget without sacrificing quality of life. We’ve reviewed a handful of the most affordable cities from the lowest to the highest average rent. Whether you’re a student, a professional, or a retiree, these cities promise a blend of affordability and quality living. Dive in to discover some of Idaho’s most affordable hidden gems.
1. Pocatello
Average rent: $975
Pocatello stands out with an average rent of $975, making it the cheapest place to live in Idaho. Living here means enjoying affordable housing, with one-bedroom apartments in Pocatello averaging $950 and two-bedrooms at $1,000.
Pocatello is home to major employers like Idaho State University and ON Semiconductor, providing ample job opportunities and a cool college town atmosphere. For free entertainment, head to the Portneuf River Greenway for scenic walks or Zoo Idaho for a fun day out.
Apartments for Rent in Pocatello | Houses for rent in Pocatello | Homes for sale in Pocatello
2. Nampa
Average rent: $1,345
Nampa’s average rent is $1,345, making it an affordable choice for many. Studio apartments are around $1,149, while one-bedroom apartments average $1,427 and two-bedrooms at $1,458.
Nampa is a hub for employers like Sorrento Lactalis and the Amalgamated Sugar Company. For a budget-friendly day out on the town, consider a visit to the Deer Flat National Wildlife Refuge or a stroll through Nampa’s historic downtown.
Apartments for Rent in Nampa | Houses for rent in Nampa | Homes for sale in Nampa
3. Twin Falls
Average rent: $1,474
With an average rent of $1,474, Twin Falls is another budget-friendly city in Idaho. Studio apartments in Twin Falls cost around $1,476, one-bedroom apartments average $1,350, and two-bedroom apartments are $1,595.
Major employers in Twin Falls include Chobani and Clif Bar, offering interesting and rewarding job opportunities for a range of skill sets. On a nice day, locals can be found enjoying nearby free attractions like the breathtaking Shoshone Falls and the scenic Snake River Canyon.
Apartments for Rent in Twin Falls | Houses for rent in Twin Falls | Homes for sale in Twin Falls
4. Idaho Falls
Average rent: $1,477
Idaho Falls offers an average rent of $1,477, making it one of the more affordable options in Idaho. One-bedroom apartments average $1,325, and two-bedroom units are around $1,628.
The city is home to significant employers like the Idaho National Laboratory and Melaleuca. Exploring the Idaho Falls River Walk or visiting the Art Museum of Eastern Idaho on free admission days just a couple of the top attractions in the area.
Apartments for Rent in Idaho Falls | Houses for rent in Idaho Falls | Homes for sale in Idaho Falls
Methodology
All cities must have over 50,000 residents per the US Census and have an average rent price under or within $50 of the median rent price for the state – which is $1,430 per month according to Redfin data. Average rental data from Rent.com July 2024.
A native of the northern suburbs of Chicago, Carson made his way to the South to attend Wofford College where he received his BA in English. After working as a copywriter for a couple of boutique marketing agencies in South Carolina, he made the move to Atlanta and quickly joined the Rent. team as a content marketing coordinator. When he’s off the clock, you can find Carson reading in a park, hunting down a great cup of coffee or hanging out with his dogs.
Live in Oregon or thinking of moving there? If so, you might be interested in knowing where you stand salary-wise compared to other 49 states.
The latest figures from the U.S. Bureau of Labor Statistics (BLS) reports the average annual income for Oregonians is $66,710, That’s slightly higher than the average annual salary in the U.S. of $65,470. Of course, an individual’s yearly earnings depend on several factors, including their occupation, level of education, age, and professional experience.
Here’s a closer look at the average salary in Oregon by age, city, and county, along with some of the highest paying jobs in the Beaver State:
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Average Salary in Oregon by Age in 2024
As with other states, the highest earners in Oregon fall within the 25 to 64 age range, with a salary decline around retirement time. The salary peaks tend to be commensurate with age and experience. Not surprisingly, entry-level salaries in Oregon tend to be on the lower end of the spectrum.
Age range
Median salary
15-24
$45,239
25-44
$86,934
45-64
$89,663
65 and over
$55,973
Source: Nasdaq
Recommended: U.S. Average Income by Age
Average Salary in Oregon by City in 2024
You don’t need a money tracker to tell you that the city you live in can greatly influence how much you make each year. Oregon is no different. Per ZipRecruiter, here are the average salaries in 10 Oregon cities:
• Myrtle Point: $92,446
• Salem: $76,125
• Gold Beach: $74,126
• New Hope: $70,922
• Nesika Beach: $70,351
• Portland: $69,904
• Melrose: $68,811
• Coquille: $68,534
• Bunker Hill: $68,454
• Eola: $67,962
Average Salary in Oregon by County in 2024
Salaries can vary per county as a result of different factors. These can include whether the county is home to a larger city, where there’s more variety in work opportunities, a need for skilled workers, and the possibility of higher pay.
According to the latest Oregon state government figures, here’s an overview of the average annual salary in select counties:
• Morrow County: $64,067
• Benton County: $62,757
• Sherman County: $57,081
• Linn County: $51,902
• Umatilla County: $50,758
• Douglas County: $50,220
• Tillamook County: $49,350
• Klamath County: $48,488
• Curry County: $44,201
• Wheeler County: $36,359
Examples of the Highest-Paying Jobs in Oregon
A well-paying job can allow you to live a very comfortable lifestyle in Oregon. Oregon’s top paying jobs provide a six-figure salary, and tend to be in the medical field. However, occupations in business, science, and technology also make the list of some of the biggest salaries.
According to the BLS, some of Oregon’s highest-paying jobs are:
• Dermatologist: $481,330
• Anesthesiologist: $444,090
• Orthopedic surgeon: $421,790
• CEO: $371,290
• Obstetricians and gynecologists: $329,680
• Psychiatrist: $287,370
• Pediatrician: $219,110
• Computer and Information Research Scientist: $178,790
• Dentist: $177,440
• Physicist: $169,720
There are other occupations in Oregon with an annual salary of $85,000 or more a year that can allow for a more flexible schedule or be done remotely, such as an art director, financial specialist, web designer, or writer. These are jobs that can easily be work-from-home situations, which can offer opportunities for introverts.
Whatever your current salary, there are always ways to maximize your earnings by monitoring your spending and setting up a budget. A budget planner app can help with both.
Recommended: 2024 Net Worth Calculator by Age with Examples
The Takeaway
Considering moving to Oregon and wondering if you can afford it? The average annual income for Oregonians is $66,710, which is slightly more than $65,470, the average annual salary in the U.S. There are many counties and towns in Oregon where making this amount of money can provide a nice quality of life, though some cities and certain regions will be more expensive. However, the state is home to many high-earning occupations, and people between the ages of 25 and 64 are in a prime spot for earning a livable salary in the Beaver State.
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FAQ
What is a good average salary in Oregon?
The median household income in Oregon is $86,780 according to the Federal Reserve Bank of St. Louis. The size of your family, your basic expenses, and the area you live, as well as other factors, can determine how far the money can stretch.
What is the average gross salary in Oregon?
The average annual gross salary in Oregon is $66,710, which breaks down to a monthly salary of $5,559.17 and $2,565.77 biweekly. This translates to $1,282.88 weekly, $256.58 daily, and an hourly wage of $32.07. Since the median rent in Oregon is $2,228 a month, you’ll want to earn more than the median yearly salary in order to be able to cover all of your expenses and possibly have some left over for savings and entertainment.
What is the average income per person in Oregon?
The annual average personal income in Oregon is $65,426, per the latest figures from the Federal Reserve Bank of St. Louis.
What is a livable wage in Oregon?
In order to make a living wage in Oregon, a single adult without children in Oregon needs to make $50,553 a year. This covers the basic cost of living, including housing, transportation, food, and medical care. For two working adults with two kids, the required income needed (before taxes) is $93,735.
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Homes in Nunaka Valley neighborhood of East Anchorage. (Loren Holmes / ADN)
Last year in Anchorage, housing reached its least affordable level in the last 21 years — worse even than during the Great Recession more than a decade ago, according to new data from the Alaska Department of Labor and Workforce Development.
State economists reported a similar statewide trend in May. In 2023, housing in Alaska was at the least affordable level since 2006.
The cost of home ownership in Alaska has increased dramatically since 2018, according to data provided by Alaska Housing Finance Corp. The average mortgage payment — principal loan amount plus interest, but excluding property taxes, insurance and other costs — rose by 52% between 2018 and 2024.
Rents have soared in that same time period.
“The rental market has gone up by about 24% in terms of the pricing escalation across the state,” said Daniel Delfino, an economist and director of planning at Alaska Housing Finance Corp.
City officials have called the situation in Anchorage a housing crisis. They’ve pointed to a tangle of factors: the spike in housing costs, a low rental vacancy rate, a rising number of short-term vacation rentals, a decline in housing development, increasing building costs and a labor shortage, among others.
The new data sheds further light on the difficulties of renting or buying a home in Anchorage today.
It’s become a central issue in recent city policymaking and discourse. Mayor Suzanne LaFrance, sworn in on Monday, says housing is a top priority for her administration.
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The Assembly has aimed to spur more housing development with a series of changes made to city code over the last two years. Late last month, the Assembly voted to essentially eliminate single-family zoning in the Anchorage Bowl, by allowing duplexes to be built in areas that were previously zoned only for houses.
To Assembly Vice Chair Meg Zaletel, one of the sponsors of last week’s measure, a housing crisis means that people across the economic spectrum “can’t achieve appropriate housing, attainable housing that’s suitable to their needs,” she said.
“That’s renters who are stuck at the top of the rental market who can’t move into home ownership. That’s people needing to double or triple up in order to afford rent. That means there just aren’t enough housing units for the market to respond to the various circumstances and needs,” she said.
More expensive, fewer homes for sale
Downtown Anchorage, photographed from Fish Creek. (Loren Holmes / ADN)
The median rent in Anchorage increased by 7.8% since last year, rising from $1,275 to $1,375 in 2024, according to AHFC’s data. That doesn’t include the cost of utilities.
AHFC’s rental data comes from a yearly survey in March done by the state Department of Labor. It “runs the full gamut” of rental housing, from studios to four bedrooms and larger, and excludes rentals that have income restrictions, like those for affordable housing programs, Delfino said.
This year’s increase comes after Anchorage rents rose 14.2% in 2022 and jumped another 5% in 2023, according to state data.
The U.S. Department of Housing and Urban Development defines being “housing cost burdened” as spending more than 30% of a person or household’s monthly income on rent or mortgage payments and utilities.
Among economists, there isn’t a broadly used definition of a “housing crisis,” nor is there a defined level of ideal affordability, said Rob Kreiger, an economist with the Alaska Department of Labor and Workforce Development who authored the May report.
That’s because what may be affordable varies by the circumstances and income of an individual, he said.
But with Anchorage housing at its “least affordable level” in two decades, “I think right now, what we’re seeing is, it’s really prohibitive for first-time buyers to afford a home, and it’s really expensive to rent as well,” Kreiger said.
Statewide, “it’s more expensive, and there are fewer homes on the market,” Delfino said, adding that the reported number of homes sold and mortgage loans recorded has dropped “pretty significantly over the past couple of years.”
According to the National Association of Homebuilders’ chief economist, more than 86% of residents can’t afford the cost of a newly constructed home in Anchorage.
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State economists measure home purchase affordability with the Alaska Affordability Index, a calculation that uses the average mortgage payment and average monthly wages to determine how much income it takes to afford a home.
An average index of 1 would mean that average monthly wages are just enough for one person to afford the average monthly mortgage payment for an average priced home.
The state and Anchorage saw the lowest indexes — the most affordable housing — in 2020 and 2021. Mortgage interest rates dropped significantly during that time as the federal government took actions to stabilize the economy during the pandemic, Kreiger said.
But by 2023, Anchorage’s affordability index jumped to 1.8. That means to afford the average Anchorage home, it takes about two people working full time at the average wage.
The Anchorage-specific data only dates back to 2002, and housing last year was at its least-affordable level in that timespan.
In 2023, Alaska’s overall affordability index was 1.66, the highest since 2006. That dataset dates back to 1992.
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‘Alaska has a problem with keeping young people’
What the state data doesn’t show or quantify is how the rapid increases in housing costs are affecting everyday residents, Delfino and Kreiger said in separate interviews.
“Given that things have moved a lot, and so quickly recently, it’s that stuff underneath the data set that affects real people that I would say is probably really pressing when we talk about the affordability,” Delfino said.
Before passing the zoning measure, the Assembly last month heard an outpouring of testimony from Anchorage residents. Many described struggling to find homes to rent or buy, or told stories of loved ones moving away because housing here is scarce and expensive.
“Based on my experiences as a renter and as a young person in Anchorage, it is very difficult for young people to find adequate housing in Anchorage. If you have a pet — forget about it,” said Sean McDowell, a renter in South Addition. McDowell said he lost his previous housing because the owner turned it into an Airbnb for the summer.
“We all know that Alaska has a problem with keeping young people. If there’s nowhere to live for young people, if it’s difficult to find a long-term rental in Anchorage, young people are going to keep leaving,” McDowell said.
Sean McDowell testified before the Anchorage Assembly about the lack of affordable housing at a meeting in June . McDowell is a renter in the South Addition neighborhood, where he was photographed this week. (Anne Raup / ADN)
“To what extent is housing playing in people’s decision to leave or stay here? It’s hard to say,” Kreiger said.
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As homeownership becomes more expensive, the point in a person’s life when they switch from renting to buying a home moves further out, Kreiger said in his May report.
“That gap is wider and wider, so it’s harder and harder to make that transition. So we see people that, six years ago, would have become homeowners, staying in an increasingly tight renter market,” Delfino said.
And then there’s wages.
For some Alaskans, raises and regular cost of living pay increases have helped to defray the pressure of rapidly rising housing costs.
But for many residents, it’s unlikely wages will increase quickly enough in the near term to make up the difference, Kreiger said.
“When we’re looking at inflation that’s as recent as it is, how quickly everyone’s salaries have caught up to the increased cost of living, I think, drives how acutely people feel the affordability pinch,” Delfino said.
A worker in Alaska, paid at the state’s minimum wage, $11.73 an hour, needs to work 75 hours a week in order to afford a modest, one-bedroom apartment at the statewide fair market rent, according to the National Low Income Housing Coalition’s annual report.
A full-time worker in Anchorage needs to make at least $27.96 per hour to afford a two-bedroom at the fair market rent of $1,454. A person making minimum wage would need to work 96 hours to afford the same apartment, according to the report.
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Getting back to average
Homes in Anchorage’s Westpark development south of Ted Stevens Anchorage International Airport. (Loren Holmes / ADN)
Another factor in increased housing costs is how rapidly mortgage interest rates have risen. Interest rates are a “critical component” making housing less and less affordable, Kreiger said.
When rates dropped during the pandemic, “it brought a lot of competition and buyers to the market that wouldn’t have otherwise been able to participate,” Kreiger said.
The average sales price for a single-family home in Anchorage rose 26% between 2019 and 2023, from $389,477 to $490,596, according to state data.
“Because you had that big rush of buyers and all that competition, and you have on top of that, this limited amount of homes for sale and limited construction … that’s really what I think put prices up so high,” Krieger said.
Since then, the average interest rate for 30-year fixed-rate mortgages has seen an unprecedented rise, according to Kreiger’s May report.
The average rate in Alaska is 6.33% — the highest since 2006.
Not only is it more difficult for a first-time home buyer to purchase a place to live, but the high interest rates can keep people stuck in homes they’ve owned for a few years.
“When the costs go up, especially if you’re a person who locked in an interest rate at 2.5% and you’re looking at moving, it’s the question of, could you afford your own home if you had to buy it today?” Delfino said.
For many residents, the answer is likely no, he said.
It’s another impact that’s difficult to quantify.
“We know all these things are happening,” Kreiger said. “… We know that there’s people who are stuck, we just don’t know how many there are.”
Still, for many longer-term homeowners who’ve built up equity, the market has never been better, Kreiger said in his report.
Housing affordability is unlikely to change much in the near term, Kreiger said. Wages will rise over time, but not quickly. Home sales prices “may level off and may come down a bit,” but not significantly, he said.
Interest rates are the most realistic variable that could help drive the index back down, he said.
Barring another major event like the pandemic, the rate is “not going to come down to where it was,” Kreiger said. “And depending on how things go with inflation, it may not actually happen for quite some time, but eventually they will come back down and create more of a normal situation.”
Anchorage’s average affordability index between 2002 and 2023 is 1.47.
In order to get back to the average affordability, wages would need to increase 22.5%, or home sales prices would need to drop by 18.4% — or around $90,000.
If only the average interest rate for a mortgage changed, it would need to drop to 4.5%.
If you rent a house when you would rather own, pin some of the blame on corporate landlords.
The 10 biggest institutional investors owned more than 430,000 single-family rental homes at the end of 2023, and they continue to acquire houses to rent out to middle-class families. Corporate landlords seek to dominate the neighborhoods they target, simultaneously reducing the inventory of houses to buy while expanding the stock of houses to rent.
Members of Congress have introduced bills to force the largest institutional investors to dramatically cut their holdings.
Renting costs less than buying
The United States suffers from a housing shortage of between 1.5 million and 5.5 million units, depending on whom you ask. Institutional investors benefit from the shortage because it pushes prices higher, making homeownership unaffordable for many. The median home resale price rose to a record $419,300 in May, according to the National Association of Realtors. Mortgage rates have remained above 6.5% since May 2023.
Consequently, it costs more to buy a starter home than to rent in the 50 largest metro areas, according to a Realtor.com report in March. According to Zillow, the median rent for a three-bedroom house was $2,200 in June. That’s $32 less than the principal-and-interest payment on a median-price house at the average mortgage rate in May — after making a 20% down payment. But who has $83,860 for a 20% down payment on a $419,300 house? The combination of high prices and interest rates forces many would-be homeowners to rent.
‘Significant market power’
Renters occupy about 15.9 million single-family homes, according to the Census Bureau. Corporate landlords own about 3% of them. That doesn’t seem like much, but corporate-owned rental houses are concentrated in a few metro areas, mostly in Florida, Georgia, the Carolinas, Texas, Arizona and California. In metro Atlanta, just three companies owned 19,000 houses at the beginning of 2022, for an 11% market share, according to research by Georgia State University geographer Taylor Shelton.
“These companies own tens of thousands of properties in a relatively select set of neighborhoods, which allows them to exercise really significant market power over tenants and renters because they have such a large concentration of holdings in those neighborhoods,” Shelton said in a news release.
Shelton says the corporate landlords’ market share has increased since then. “The reality is that the corporate stranglehold on the single family rental market in places like Atlanta has only gotten worse,” he said in an email.
Raising rents, charging fees
Invitation Homes owned 12,726 rental houses in metro Atlanta at the end of 2023. The company exercised its market power by raising the average rent there 7.1% last year, according to the company’s annual reports, while the area’s median home price went up 1.3%, according to the National Association of Realtors. Invitation also stacks up to $145 in mandatory monthly fees on top of rent: up to $40 for smart home technology, $9.95 for quarterly air filter delivery, $9.95 to manage utility billing and up to $85 for internet.
Corporate landlords raise rent and charge ancillary fees because they can. “These institutions have outsized power in our housing market, and that influence is growing,” said U.S. Sen. Jeff Merkley, D-Oregon, in an email. “By 2030, Wall Street could control 40 percent of U.S. single-family rental homes.”
How corporate landlords get so many houses
Big corporations have two main methods of accumulating rental houses: buying homes when the owners list them for sale and build-to-rent. In recent years, build-to-rent has dominated.
In the build-to-rent model, a company constructs houses that are intended for the rental market from the time the company buys the land. According to an Urban Institute analysis, construction was started on 120,000 build-to-rent houses in 2022 — 12% of all single-family starts.
The other way these companies collect houses is by buying them on the resale market. When they do, corporations have the resources to outcompete folks who browse for houses online.
Progress Residential is the largest corporate landlord, with 85,000 houses. It bought most of them on the resale market, competing with ordinary people. But Progress has an edge over people, a company executive explained in a 2021 episode of the Leading Voice in Real Estate podcast.
“We have an incredibly effective system for acquiring homes one at a time,” Progress’s then-CEO, Chaz Mueller, said. Every 15 minutes, the company got an update of newly listed homes in its markets. When an algorithm identified a house that met its criteria, the company’s acquisition team made an offer “within a couple of hours of the home going on the market. So we’re able to analyze it very quickly, make an offer. Our offers are all cash, very flexible closing, basically whenever the seller wants to move out,” Mueller said.
A bill to make them sell
Merkley, the Oregon senator, has introduced a bill that would force corporate landlords to sell their houses. The End Hedge Fund Control of American Homes Act “is intended to give all families a fair chance to buy a decent home in a decent community at a price they can afford, because houses should be homes for families, not a profit center for Wall Street,” Merkley said in an email.
His bill would make corporate landlords sell at least 10% of their inventories of single-family rental homes every year for 10 years or face steep tax penalties. A similar bill was introduced into the House, sponsored by U.S. Rep. Adam Smith, D-Washington.
Are corporate landlords giving people what they want?
Corporate landlords point out that they build houses in a country that needs millions more dwellings. “We continue to do our part in solving the housing shortage by providing new premium housing options in desirable family-friendly locations across the country,” said David Singelyn, CEO of AMH, the third-largest corporate landlord with about 60,000 houses, in a recent earnings call.
Sean Dobson, CEO of The Amherst Group (fourth-biggest, 50,000 houses), made a similar point when he was interviewed for Barry Ritholtz’s Masters in Business podcast in March. He described a family that outgrows an apartment, but can’t afford to buy a house. Then the family rents from Amherst: “These are homes that [the] resident would have a very difficult time getting into without us,” he said.
Welcome to the vibrant city of Birmingham, AL, where southern hospitality meets urban charm. Whether you’re exploring the historic Civil Rights District, savoring the flavors of the renowned food scene, or enjoying the lush green spaces, Birmingham has something for everyone. Residents here take pride in the city’s warm and welcoming atmosphere, making it an ideal place to call home. So whether you’re searching for the perfect apartment in downtown Birmingham or eyeing a cozy rental home in the suburbs, you’ve come to the right place.
In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Birmingham. Let’s get started and see what awaits in the Magic City.
Pros of living in Birmingham, AL
1. Rich cultural heritage
Birmingham is steeped in history and boasts a rich cultural heritage that is evident in its museums, art galleries, and historic landmarks. Residents have the opportunity to explore the city’s past at the Birmingham Civil Rights Institute, the Birmingham Museum of Art, and the Alabama Jazz Hall of Fame. The city’s vibrant arts scene also includes numerous theaters, music venues, and annual festivals that celebrate its diverse cultural influences.
2. Affordable cost of living
One of the major advantages of living in Birmingham is its affordable cost of living. The average rent for a 2 bedroom apartment in Birmingham is only $1,551, below the national median rent of $1,987. The city offers reasonably priced housing options, lower utility costs, and a lower overall cost of living compared to many other major cities in the United States. Residents can enjoy a high quality of life without breaking the bank, making Birmingham an attractive place to live for those seeking affordability.
3. Outdoor recreational opportunities
Birmingham is surrounded by natural beauty, with numerous parks, hiking trails, and outdoor recreational areas for residents to enjoy. Red Mountain Park, Ruffner Mountain, and Oak Mountain State Park are just a few of the outdoor spaces that offer opportunities for hiking, biking, and picnicking. The city’s proximity to the Appalachian Mountains also provides outdoor enthusiasts with easy access to a variety of outdoor activities.
4. Growing job market
Birmingham’s job market has been steadily growing, offering residents a range of employment opportunities across various industries. The city is home to a diverse economy, with a focus on healthcare, finance, manufacturing, and technology. Major employers in Birmingham include the University of Alabama at Birmingham, Regions Financial, AT&T, Honda, and St. Vincent Health System. Additionally, Birmingham’s entrepreneurial ecosystem is thriving, making it an appealing place for professionals looking to advance their careers or start their own businesses.
5. Culinary scene
Birmingham has gained recognition for its burgeoning culinary scene, with an array of restaurants, cafes, and food festivals that showcase the city’s diverse and innovative dining options. From traditional Southern cuisine at Helen and Farelly’s to international flavors, residents can indulge in a wide range of culinary experiences, making Birmingham a food lover’s paradise.
6. Community spirit
Birmingham is known for its strong sense of community and neighborly spirit. Residents often come together to support local initiatives, volunteer for charitable causes, and participate in community events. The city’s close-knit neighborhoods foster a sense of belonging and camaraderie, creating a welcoming and inclusive environment for residents.
7. Access to higher education
Birmingham is home to several esteemed colleges and universities, providing residents with access to higher education and lifelong learning opportunities. Institutions such as the University of Alabama at Birmingham, Samford University, and Birmingham-Southern College offer a diverse range of academic programs, cultural events, and resources for personal and professional development.
Cons of living in Birmingham, AL
1. Limited public transportation options
One of the challenges of living in Birmingham is the limited public transportation infrastructure. Birmingham has a low transit score of 21 out of 100, indicating that residents are highly car dependent. The city’s reliance on cars and the lack of comprehensive public transit options can make commuting and getting around the city more challenging, especially for those who prefer not to drive.
2. Humid climate
Birmingham experiences a humid subtropical climate, characterized by hot, humid summers and mild winters. The high humidity levels during the summer months can be uncomfortable for some residents, and the occasional severe weather events, such as thunderstorms and tornadoes, may pose a concern for those not accustomed to such conditions.
3. Limited nightlife options
While Birmingham has a growing entertainment scene, some residents may find the city’s nightlife options to be more limited compared to larger metropolitan areas. The availability of late-night venues, live music performances, and cultural events may not be as extensive as in other cities, which could be a drawback for those seeking a vibrant nightlife.
4. Limited public green spaces in some neighborhoods
While Birmingham offers a variety of outdoor recreational opportunities, some neighborhoods may have limited access to public green spaces and parks. This could be a drawback for residents who prioritize easy access to nature and outdoor amenities within their immediate community.
With its picturesque riverfront, rich cultural heritage, and bustling downtown scene, Wilmington offers a unique blend of urban excitement and small-town charm. Residents here enjoy a diverse culinary scene, a strong sense of community, and easy access to nearby major cities. Whether you’re seeking a trendy apartment in the heart of Wilmington or a cozy rental house in a historic neighborhood, this city has something for everyone.
In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Wilmington. Let’s get started and see what awaits in this hidden gem along the Brandywine River.
Pros of living in Wilmington, DE
1. Rich history and culture
Wilmington is steeped in rich history and culture, offering residents a deep sense of heritage and tradition. The city is home to numerous museums, including the Delaware Art Museum and the Delaware History Museum, providing a wealth of opportunities for residents to explore and appreciate the city’s cultural roots. Additionally, the Wilmington Riverfront is a vibrant hub of arts and entertainment, featuring galleries, theaters, and live music venues that contribute to the city’s dynamic cultural scene.
2. Proximity to major cities
One of the advantages of living in Wilmington is its close proximity to major cities such as Philadelphia, Baltimore, and Washington D.C. This provides residents with easy access to a wide range of cultural and entertainment offerings, as well as employment opportunities and educational institutions. The city’s strategic location makes it an ideal choice for those who value the convenience of urban amenities while still enjoying a more relaxed pace of life.
3. Diverse dining options
Wilmington boasts a diverse culinary scene, with a wide array of dining options to suit every palate. From trendy farm-to-table eateries to international cuisine and classic spots like the Charcoal Pit, residents can indulge in a variety of culinary experiences without ever leaving the city. From old classics like the Charcoal Pit to the recently restored Le Cavalier, the Wilmington food scene is a haven for food enthusiasts and adventurous diners.
4. Access to outdoor recreation
Despite being an urban center, Wilmington offers ample opportunities for outdoor recreation. The city is home to numerous parks, trails, and green spaces like the Fox Point State Park on the Brandywine River. These green spaces providing residents with the chance to enjoy nature and engage in activities such as hiking, biking, and picnicking. The nearby Brandywine Valley also offers scenic landscapes and outdoor attractions, making it easy for residents to escape the hustle and bustle of city life.
5. Affordable cost of living
One of the appealing aspects of living in Wilmington is its relatively affordable cost of living compared to other East Coast cities. The average rent in Wilmington is only $1,737, which is lower than the national median rent of $1,987 and nearby Philadelphia’s average of $1,995. Housing costs, in particular, are more reasonable, allowing residents to enjoy a comfortable lifestyle without breaking the bank. This makes Wilmington an attractive option for individuals and families looking to establish roots in a city with a lower financial burden.
Cons of living in Wilmington, DE
1. Limited public transportation options
One of the drawbacks of living in Wilmington is the limited public transportation options available to residents. While the city does have a public bus system, it may not be as comprehensive or convenient as in larger metropolitan areas. Wilmington’s transit score is 48 out of 100, indicating that many residents need cars to get around. This can pose challenges for those who rely on public transit for their daily commute or prefer not to drive.
2. Weather extremes
Wilmington experiences weather extremes throughout the year, with hot and humid summers and cold winters. The fluctuating climate can be a downside for residents who prefer more moderate weather conditions. Additionally, the city is prone to occasional severe weather events, such as hurricanes and nor’easters, which can disrupt daily life and pose safety concerns.
3. Limited nightlife options
While Wilmington offers a vibrant cultural scene, the city’s nightlife options may be more limited compared to larger urban centers. Residents seeking a bustling nightlife with a wide variety of clubs, bars, and late-night entertainment venues may find the options in Wilmington to be relatively modest. This can be a downside for those who prioritize a lively social scene.
4. Traffic congestion
Like many cities, Wilmington experiences traffic congestion during peak commuting hours, which can lead to longer commute times and increased stress for residents. The city’s infrastructure may not be equipped to handle the volume of traffic during rush hours, resulting in delays and frustration for those navigating the roadways. This can be a significant drawback for individuals who value efficient and stress-free transportation.
5. Limited job market
Despite its proximity to major cities, Wilmington may have a more limited job market compared to larger urban centers. While there are opportunities in various industries, residents seeking a wide range of career options may find the city’s job market to be more constrained. This can be a challenge for individuals looking to advance their careers or explore diverse professional opportunities.
Boulder offers a unique blend of natural beauty and urban charm with its thriving outdoor culture, vibrant arts scene, and a strong sense of community. Considered one of the healthiest and happiest cities in the country, living in Boulder comes with a focus on wellness and sustainability. So whether you’re searching for the perfect apartment in Boulder or eyeing a spacious rental house in the surrounding neighborhoods, you’ve come to the right place. In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Boulder.
Pros of living in Boulder, CO
1. Outdoor paradise
With its close proximity to the Rocky Mountains and an abundance of hiking, biking, and rock climbing opportunities, Boulder is a haven for outdoor enthusiasts. Residents can enjoy the scenic beauty of Chautauqua Park, Eldorado Canyon State Park, and the Flatirons, making it an ideal location for those who love to stay active and explore nature.
2. Thriving food scene
Boulder boasts a vibrant culinary scene, with a focus on farm-to-table dining and locally sourced ingredients. From trendy cafes and food trucks to upscale restaurants like Corrida, the city offers a diverse range of dining options to cater to every palate. The Boulder Farmers’ Market is also a popular destination for fresh produce and artisanal goods, adding to the city’s appeal for food lovers.
3. Progressive community
Boulder is known for its progressive and environmentally conscious community, making it an ideal place for individuals who value sustainability and social responsibility. The city’s commitment to green initiatives, renewable energy, and eco-friendly practices creates a welcoming environment for those who prioritize environmental stewardship.
4. Active lifestyle
With a strong emphasis on health and wellness, Boulder offers a plethora of fitness and wellness facilities, including yoga studios, fitness centers, and outdoor workout spaces. The city’s active lifestyle culture encourages residents to prioritize their physical and mental well-being, fostering a sense of vitality and balance in daily life. Boulder even hosts an annual yoga festival: the Hanuman Festival.
5. Cultural diversity
Despite its relatively small size, Boulder embraces cultural diversity and hosts a variety of cultural events, festivals, and art exhibitions throughout the year. In the summer, locals can enjoy events such as the Boulder Jewish Festival and the Colorado Shakespeare Festival. Residents can immerse themselves in the city’s rich tapestry of music, art, and traditions, contributing to a vibrant and inclusive community spirit.
6. Academic excellence
Home to the University of Colorado Boulder, the city benefits from a strong academic presence and intellectual vibrancy. The university’s contributions to research, innovation, and cultural exchange enrich the local community and provide opportunities for lifelong learning and personal growth.
7. Scenic beauty
Boulder’s picturesque surroundings, including its stunning mountain vistas and lush green spaces, offer residents a visually captivating and serene environment. The city’s natural beauty provides a sense of tranquility and inspiration, making it an idyllic place to call home.
Cons of living in Boulder, CO
1. High cost of living
Boulder’s desirability comes at a price, as the cost of living is quite high. The average rent for a 2 bedroom apartment in Boulder is $2,600 which is significantly higher than the national median rent of $1,987. Housing, utilities, and everyday expenses can be steep, posing a financial challenge for many residents. The competitive real estate market and limited affordable housing options can also make it difficult for individuals to find suitable accommodations within their budget.
2. Limited public transportation
While Boulder promotes a bike-friendly and pedestrian-friendly environment, the city’s public transportation system is relatively limited. Boulder’s transit score is 47 out of 100, indicating that there are bus routes within the city but some errands may require a car. Residents who rely on public transit may find it challenging to commute to certain areas, especially compared to larger metropolitan areas with more extensive transit networks.
3. Seasonal weather extremes
Boulder experiences distinct seasonal changes, including hot summers and cold winters, which may not be suitable for everyone. The average annual snowfall is almost 7.5 feet. The city’s high altitude and exposure to mountain weather patterns can lead to temperature fluctuations and occasional extreme weather events, requiring residents to adapt to diverse climate conditions throughout the year.
4. Limited job market
Despite its appeal as a desirable place to live, Boulder’s job market may be limited in certain industries. Major employers include Ball Aerospace, Medtronic, IBM, and Northrup Grumman. The city’s economic focus on technology, education, and research may not fully cater to diverse professional backgrounds, potentially impacting job prospects for some residents.
5. Tourist influx
Boulder’s popularity as a tourist destination can result in seasonal influxes of visitors, especially during peak outdoor recreation periods and major events. While tourism contributes to the city’s economy, it can also lead to crowded public spaces, increased traffic, and a temporary disruption of the local atmosphere for residents.
6. Altitude adjustment
Due to its high elevation, some individuals may experience challenges adjusting to Boulder’s altitude, which can affect respiratory health and physical performance. New residents or visitors coming from lower elevations may need time to acclimate to the thin air and potential effects on their well-being.
Welcome to the charming city of Richmond, VA, where history meets modernity and southern hospitality is at its finest. With its cobblestone streets, historic architecture, and bustling arts scene, Richmond offers a unique blend of old-world charm and contemporary allure. Residents here enjoy a thriving culinary scene, picturesque parks, and a strong sense of community. Whether you’re drawn to an apartment in the downtown area of Richmond or a rental house in the peaceful suburbs, there’s something for everyone.
In this Apartment Guide article, we’ll cut to the chase, breaking down the pros and cons of moving to Richmond. Let’s get started and see what awaits in this historic and vibrant city.
Pros of living in Richmond, VA
1. Rich history and culture
Richmond is steeped in history and culture, offering residents a deep sense of heritage and tradition. From the historic cobblestone streets of Shockoe Bottom to the iconic Monument Avenue lined with statues of Confederate leaders, the city is a living museum of American history. The Virginia Museum of Fine Arts and the American Civil War Museum provide enriching experiences for art and history enthusiasts, while the city’s vibrant arts scene showcases local talent and creativity.
2. Outdoor recreational opportunities
With its proximity to the James River and the scenic beauty of the surrounding area, Richmond boasts an abundance of outdoor recreational opportunities. Residents can enjoy kayaking, paddleboarding, and tubing on the river, as well as hiking and mountain biking along the extensive trail system. The city’s numerous parks and green spaces, such as Maymont Park and Belle Isle, offer tranquil retreats for nature lovers and outdoor enthusiasts.
3. Culinary delights
Richmond’s culinary scene is a melting pot of flavors and influences, with a diverse array of restaurants, cafes, and food trucks to satisfy every palate. From Southern comfort food and barbecue joints to trendy farm-to-table eateries and international cuisine, the city’s dining options are as varied as they are delicious. The annual Beer, Bourbon, and BBQ Festival and Lebanese Food Festival celebrate the city’s culinary diversity, showcasing the talents of local chefs and artisans.
4. Affordable cost of living
One of the appealing aspects of living in Richmond is its relatively affordable cost of living compared to other major cities on the East Coast. The average rent for a 2 bedroom apartment in Richmond is $1,754, below the national median rent of $1,987. Housing options range from historic homes in charming neighborhoods to modern apartments in the bustling downtown areas, offering residents a variety of choices to suit their lifestyle and budget. The city’s lower overall cost of living allows for a comfortable and fulfilling life without breaking the bank.
5. Thriving arts and music scene
Richmond has a thriving arts and music scene, with a strong sense of community and creativity that permeates the city. The First Fridays Art Walk showcases the work of local artists and galleries, while live music venues like The National and The Broadberry host a diverse range of performances, from indie rock and hip-hop to jazz and blues.The annual Richmond Folk Festival showcases local musicians as well as larger national acts. The city’s support for the arts fosters a vibrant cultural landscape that enriches the lives of residents and visitors alike.
6. Access to higher education
Richmond is home to several prestigious colleges and universities, including the University of Richmond, Virginia Commonwealth University, and Virginia Union University. The presence of these institutions not only contributes to the city’s intellectual and cultural vibrancy but also provides opportunities for lifelong learning and personal growth. Residents have access to a wide range of educational and enrichment programs, as well as cultural events and lectures hosted by the local academic community.
7. Close-knit communities
Richmond is known for its close-knit communities and strong sense of neighborhood pride, fostering a welcoming and inclusive environment for residents. From the historic charm of Church Hill to the eclectic energy of Carytown, each neighborhood has its own distinct character and identity. The city’s strong community spirit is evident in the numerous local events, farmers’ markets, and neighborhood gatherings that bring people together and create a sense of belonging.
Cons of living in Richmond, VA
1. Humid climate and unpredictable weather
Richmond’s climate is characterized by hot, humid summers and mild winters, with occasional extreme weather events such as hurricanes and tropical storms. The high humidity levels can be uncomfortable for some residents, especially during the summer months, while the unpredictable weather patterns may pose challenges for outdoor activities and planning daily routines.
2. Traffic congestion and limited public transportation
Like many urban areas, Richmond experiences traffic congestion, particularly during rush hours and peak travel times. The city’s public transportation system, while improving, still has limitations in terms of coverage and frequency, making it less convenient for some residents to rely on public transit for their daily commutes. The lack of comprehensive public transportation options may contribute to traffic congestion and parking challenges in certain areas.
3. Limited job opportunities in certain industries
While Richmond has a diverse economy with a strong presence in sectors such as finance, healthcare, and government, some residents may find limited job opportunities in certain industries. The city’s job market may not be as robust in fields like technology and creative industries compared to larger metropolitan areas, which could pose challenges for individuals seeking employment in specific sectors. Major employers in Richmond include VCU Health Systems, Capital One Financial, Virginia Commonwealth University, and Dominion Energy.
4. Allergens and pollen levels
Richmond’s natural beauty and lush greenery come with a downside for allergy sufferers, as the city experiences high pollen levels during certain times of the year. Residents with allergies may find themselves affected by seasonal allergens, which can impact their overall well-being and quality of life, requiring them to take extra precautions and seek appropriate medical care.
5. Limited nightlife options
While Richmond has a vibrant arts and music scene, some residents may find the city’s nightlife options to be relatively limited compared to larger urban centers. The availability of late-night entertainment, bars, and clubs may not be as extensive as in other cities, which could be a drawback for those seeking a more robust nightlife experience.
To buy or not to buy? That is the question many renters face when trying to decide when or if to jump into the housing market. On top of monitoring mortgage rate trends and housing prices, analyzing the price-to-rent ratio for your desired city is a helpful tool for determining whether it is a better personal finance choice to rent or buy a home.
The price-to-rent ratio is calculated by dividing the median home price by the annual median rent. A high price-to-rent ratio of 21 or more suggests that it is more expensive to buy a home than to rent, while a lower price-to-rent ratio of under 16 suggests that it is less expensive to buy a home rather than rent. A moderate price-to-rent ratio between 16-21 suggests that it is likely more favorable to rent rather than buy, but it will depend on individual financial circumstances.
It’s important to note that the price-to-rent ratio doesn’t take into account the overall affordability of an area, but it can be useful in determining if specific property types are fairly valued compared to rental prices.
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To help renters, buyers, and investors find the next best city to rent or buy a home in, Zoocasa calculated the price-to-rent ratio in 32 cities across the US for single-family homes and condos. Median rental prices were sourced from Rent.com’s most recent report and median single-family and condo prices were sourced from the National Association of Realtors® and individual real estate boards.
In every condo market we analyzed besides San Diego, the price-to-rent ratio suggests it is less expensive to buy a condo than to rent an apartment. Since the Fed began raising interest rates in 2022, the national median asking rent has remained elevated, hovering around $2,000. But even with borrowing costs high, the favorable price-to-rent ratios for condos indicate that purchasing is a more financially sound option if you have the means.
The highly sought-after markets of New York and Miami have the lowest price-to-rent ratios for condos with ratios of 7.9 and 9.6 respectively. In both cities, the median condo price is more than $250,000 less than the median single-family home price, while the median monthly rent is a staggering $4,121 in New York and $3,057 in Miami. Given the promising potential for equity growth in these competitive markets, purchasing a condo becomes a particularly attractive option.
Philadelphia, San Antonio, and Chicago have the next lowest price-to-rent ratios for condos – all under 10.3 – with San Antonio having the lowest median condo price of the three at $175,000.
As the price-to-rent ratio doesn’t take into account how affordable a city actually is, some smaller cities with higher price-to-rent ratios for condos have much lower prices compared to New York and Miami. For instance, Columbus and Milwaukee have price-to-rent ratios of 12.5 and 12.4 respectively, while their median condo prices are below $280,000. The median rent in both cities is also low, further highlighting how the price-to-rent ratio is useful for comparing resale and rental values, but not in directly determining which option is better given personal financial circumstances.
When calculating price-to-rent ratios for single-family homes, the ratios increase quite a bit compared to those for condos. San Diego, Nashville, and Seattle all have price-to-rent ratios for single-family homes above 21, suggesting that it is less expensive to rent here than to buy. San Diego has the highest median single-family home price on our list at $981,000, which is more than $80,000 higher than the next most expensive on our list, Boston. While San Diego’s median rent of $3,400 is only the fourth-highest on our list.
On the other end of the spectrum, Pittsburgh has the lowest price-to-rent ratio for single-family homes at 9.6. The median single-family home price in Pittsburgh is $207,100 – the lowest of all of the cities we analyzed. Buffalo is the only other city with a price-to-rent ratio for single-family homes below 12. Philadelphia and Detroit follow with price-to-rent ratios of 12.2 and 12.3 respectively.
In the majority of cities we analyzed, including affordable cities like Oklahoma City, Houston, and Indianapolis, the price-to-rent ratios for single-family homes exceed 16, indicating that median rent is relatively low compared to the costs of homeownership.
Although purchasing a single-family home may be more unaffordable than renting in many major cities, opting for buying a condo first and building equity can be a sound step in reaching the goal of owning a larger home.
If you’re looking to enter one of these markets, whether as a renter or a buyer, it’s important to speak with a local realtor who can give you specific information and guidance about the local real estate market. Give us a call today to discuss your home-buying plans.
“Mortgage rates ticked back up in February—a disappointing development for prospective homebuyers, who just a few months ago got a glimmer of hope as rates finally started to fall,” Fairweather said. “With rates still elevated, many are opting to continue renting, which is buoying rental demand, and as a result, rent prices.” However, there’s potential … [Read more…]